| F.119 State and Local Government Employee Retirement Funds | |||||||||||||
| Billions of dollars; quarterly figures are seasonally adjusted annual rates | |||||||||||||
| stock price direction | DOWN | DOWN | DOWN | UP | UP | UP | DOWN | UP | UP | UP | DOWN | ||
| bond price direction | UP | UP | UP | UP | DOWN | DOWN | UP | DOWN | DOWN | DOWN | DOWN | ||
| 2001 | 2002 | 2003 | 2004 | 2005 | 2005 | 2006 | |||||||
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | ||||||||
| 1 | Gross saving | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 1 |
| 2 | Fixed nonresidential investment | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 2 |
| 3 | Net acquisition of financial assets | 86.9 | 8.5 | 14.9 | -1.1 | -13.2 | -9.2 | -5.2 | -54.7 | 16.2 | -57.5 | -24.6 | 3 |
| 4 | Checkable deposits and currency | 1.5 | 1.5 | 4.3 | 0.4 | -0.7 | -5.1 | -0.9 | 18.0 | -14.9 | 1.9 | -9.2 | 4 |
| 5 | Time and savings deposits | 0.2 | -0.1 | -0.3 | 0.3 | 0.3 | 0.2 | -1.1 | 1.2 | 0.7 | -2.1 | 0.2 | 5 |
| 6 | Money market fund shares | 2.2 | 0.1 | -2.9 | -3.1 | 2.9 | -6.0 | 4.1 | 1.1 | 12.2 | -3.1 | 0.5 | 6 |
| 7 | Security RPs | -5.9 | -6.9 | -5.0 | -5.3 | 3.2 | -6.5 | 2.9 | 15.3 | 1.2 | -5.7 | 10.6 | 7 |
| 8 | Credit market instruments | -53.8 | -50.7 | 11.2 | 27.2 | -2.5 | 60.0 | -23.6 | -58.6 | 12.2 | -14.1 | -14.0 | 8 |
| 9 | Open market paper | 4.0 | -3.2 | -9.0 | -9.5 | -0.6 | -2.7 | 2.3 | -1.2 | -0.8 | -1.3 | 4.6 | 9 |
| 10 | Treasury securities | -24.0 | 3.8 | -10.9 | -17.5 | -4.0 | -13.3 | 11.9 | -29.8 | 15.1 | 15.1 | -11.1 | 10 |
| 11 | Agency- and GSE-backed securities | 1.9 | 11.8 | 55.7 | 44.2 | 1.7 | 76.8 | -39.6 | -18.1 | -12.1 | -9.6 | -3.9 | 11 |
| 12 | Municipal securities | -0.1 | -0.8 | 0.1 | 0.7 | -0.6 | -2.7 | 1.2 | 1.0 | -1.8 | -3.4 | 0.2 | 12 |
| 13 | Corporate and foreign bonds | -34.6 | -62.4 | -24.1 | 10.2 | -0.4 | -1.8 | 0.3 | -7.2 | 7.1 | -7.2 | -3.4 | 13 |
| 14 | Mortgages | -1.1 | 0.1 | -0.7 | -0.9 | 1.3 | 3.8 | 0.3 | -3.3 | 4.6 | -7.7 | -0.5 | 14 |
| 15 | Corporate equities | 115.1 | 50.2 | -0.6 | -22.6 | -12.7 | -4.7 | -5.9 | -38.0 | -2.3 | -40.8 | -16.4 | 15 |
| 16 | Mutual fund shares | 25.8 | 13.9 | 7.3 | 1.6 | -0.2 | -0.8 | -0.2 | -2.0 | 2.1 | -0.2 | -1.1 | 16 |
| 17 | Miscellaneous assets | 1.8 | 0.4 | 0.9 | 0.5 | -3.4 | -46.3 | 19.5 | 8.2 | 5.0 | 6.5 | 4.9 | 17 |
| 18 | Pension fund reserves (liabilities) (1) | 86.9 | 8.5 | 14.9 | -1.1 | -13.2 | -9.2 | -5.2 | -54.7 | 16.2 | -57.5 | -24.6 | 18 |
| (1) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector. | |||||||||||||
